1) print limited number of high value currency A crore rupee note can reduce number of owners 2) it is easy to track who own money if notes of 1 lakh are printed 3) Remove 95% of Re 1000, 500 and 100 notes allow all business through banks 4) Reduce 80% currency notes of Re50, 20 and 10. This system make it difficult for duplicate currency which is 2/3 of our system. In USA and Europe to get high value currency it is difficult to get. Their currencies are stable just because of less circulation and many trades happen through banking system. In India though we are more productive in work we are denied stability of our currency reason given for it is illiteracy . What is illiteracy ? not knowing how to operate a bank account and transact.
Posted on: Fri, 23 Aug 2013 08:45:45 +0000
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